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Mon 08 Aug 2009McCarthy warns on bank losses
The Government may ultimately end up nationalising the banks, or going “most of the way” towards nationalising them even within the terms of the new National Asset Management Agency (Nama), economist Colm McCarthy said today.
The economist, who was the lead author on the recent report recommending certain cuts in public expenditure, said there would be other loan losses to the banks apart from those held by developers.
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